Nov 5 Regeneron Pharmaceuticals Inc on
Tuesday reported quarterly earnings that beat analyst
expectations and also raised its forecast for its Eylea eye drug
again, although it said growth of that key treatment slowed
again during the past three months.
Regeneron, whose stock has been propelled by sales of Eylea,
said that sales of that key drug rose 49 percent to $363 million
in the quarter. Last quarter, it had reported growth of 70
percent for the drug, which was down from 153 percent in the
first quarter. Patients are using fewer doses of the drug.
The company reported net income of $141 million, or $1.25
per share, down from $191 million, or $1.72 per share a year
earlier. Analysts had expected third-quarter earnings of 90
cents per share, according to Thomson Reuters I/B/E/S.
The company raised its forecast for 2013 Eylea sales to a
range of $1.35 billion to $1.375 billion. Its previous forecast
was for a range of $1.3 billion to $1.35 billion.
Regeneron shares closed on Monday at $281.70, down froma
year high of $319.83 on Sept. 30. Shares were trading higher in
pre-market activity at $298, up 6 percent.